New Stowmarket business park to play vital role on route to ports
A new business park is expected to help combat a shortage of industrial units along Suffolk’s A14 corridor to the ports.
The 54-acre StowmarketEAST commercial business park, near junction 50 of the A14, is expected to provide much sought after industrial units of more than 50,000 square feet.
Consultancy Carter Jonas, which is working with developer, Building Partnerships, to profile the site, say there is only a total of 268,000 sq ft of industrial properties over 50,000 sq ft along the A14 corridor, with premises dating back to 1975.
Steven Harvey, of Carter Jonas, said the design and build opportunities at StowmarketEAST will meet a number of pressing commercial needs triggered by a multi-million pound investment at Felixstowe docks, a growing appetite for “click & collect” shopping and the lack of modern warehousing in Suffolk’s A14 corridor to the ports.
He said: “Property agents with clients in this commercial sector freely acknowledge the shortage of large, modern units in this region of the country.”
He said he majority of newer sites are situated on smaller plots but StowmarketEAST – which will have A14 frontage – will deliver industrial and storage and distribution and office units from 10,000 sq ft to 800,000 sq ft to meet prospective occupiers’ needs along this strategic route which links the UK to the East of England ports.
The completion of the first phase of the planned redevelopment of Felixstowe docks will see the port’s deep water capacity increase by 25 per cent.
An increased throughput from the port will increase demand for off-site employment land along connecting transport corridors.
Mr Harvey said: “According to government figures, the value of the e-commerce sector by 2018 will be £60 billion – in 2013, it was £10 billion.
“Our “click & collect” or “click & deliver” lifestyles are helping to feed the growth of the distribution and logistics business sectors here and on the continent.
“While Mid Suffolk is well placed to capitalise on this by virtue of its geographical position, it hasn’t necessarily been well served by a quantity and quality of commercial stock that appeals to modern operators in the sector. StowmarketEAST offers opportunities to address this.”